MPLX LP enters $2.0B five-year revolving credit facility, replaces $3.5B prior agreement

MPLX LP

$2.0B unsecured revolver matures July 7, 2027; optional $1.0B accordion feature.
Replaces and terminates the prior $3.5B credit agreement dated July 26, 2019.
Pricing: SOFR +125bps (currently) or ABR +25bps; commitment fee 15bps on unused commitments.
Leverage ratio covenant: Consolidated Debt/EBITDA ≤5.0x (5.5x during Acquisition Period).
Swingline subfacility $150M, letter of credit subfacility $150M (expandable to $200M).

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